UMA, API3, IMX Coin Price Analysis

While the market is heading lower, some coins are resisting the move. UMA Coin, API3 and IMX Coin are holding strong against the downtrend and continuing to rise. What are the support and resistance levels of UMA, API3 and IMX?

UMA Coin Price Analysis:

UMA Coin enormusly pumped from $1.9 to $7 last month. Then investors sold profits and the cryptocurrency’s price fell as low as $3.97. Today, Uma Coin is trading above $ 4.6, up 17% from $ 3.97. The support level to follow is $4, while the upper resistance zone is $5.

What is UMA?

UMA, the native cryptocurrency of the UMA protocol (Universal Market Access protocol), serves as the foundation for a platform that enables users to generate their own synthetic assets. These synthetic assets are digital tokens designed to mirror and monitor the value of real-world assets. Referred to as “priceless financial contracts” within the platform, these tokenized assets offer users the ability to gain exposure to various assets and markets in a decentralized and efficient manner.

API3 Price Analysis:

Like UMA, API3 has experienced a bumpy price movement over the past month. API3 rose from $1.5 to $3.3 and charted a bit scary for its investors. Finally, the coin is up 15% today, trading at $3.6. While our support zone in API3 is 3 dollars, the next resistance zone is 3.6 dollars, where it is currently located.

What is API3?

API3 serves as the native token of the API3 project, granting holders the privilege to engage in the governance of the API3 ecosystem via the API3 DAO (Decentralized Autonomous Organization). To acquire shares in the API3 DAO, token holders must stake their API3 tokens into the insurance pool, which additionally provides them with access to weekly staking rewards. This setup enables token holders to actively participate in shaping the future direction and decisions of the API3 ecosystem while incentivizing participation through staking rewards.

IMX Coin Price Analysis:

IMX has been on a slow but steady uptrend from $1.6. It has been rising for almost the last two weeks and is currently trading at $2.9, up 6%. While the support zone for IMX is $2.5, the resistance zone seems to be the $4 level. This price trend

What is IMX?

Immutable X (IMX) serves as the native token of an NFT (non-fungible token) marketplace, functioning as a layer 2 network solution for the Ethereum blockchain. Leveraging zero-knowledge proof technology, Immutable X provides users with low transaction fees, rapid transaction speeds, and enhanced scalability, enabling the network to handle a greater volume of transactions without compromising performance. This infrastructure facilitates efficient and seamless trading of non-fungible tokens while addressing some of the key limitations of the Ethereum network.